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been trying to gather support. the there are forced to pay a one off tax of 6.75%. and is not just the terms of the bailout making people here angry. some people feel they are being lied to. >> none of the promises they're making are real. five days ago, they were saying there was no chance for a haircut. now there is this situation than they are promising somehow we will get it back. there is no chance. >> germany has been blamed for insisting on the levee. they say they are open to changes. it includes a levy on deposits under 100,000 euro. the numbers we came up with are the base level. if there is any other way to achieve it, up to 100,000, we would not have the slightest problem. we would have to wait and see. >> given the angry reaction, there does appear to be rethinking going on behind the scenes. >> for more, we cross over live to cyprus to talk to nathan. it looks like the public backlash and international criticism are indeed forcing a rethink on this levy on bank deposits. how much room do they have? >> quite a bit of room as long as they can meet the magic number a 5.6
overwhelmingly reject a tax on savings. >> in syria, the government and rebels trade accusations of using chemical weapons in a village near aleppo. >> pope francis officially begins his papacy in rome with a promise to embrace the whole of humanity. >> in a vote expected to have wide ranging consequences, lawmakers in cyprus have delivered a decisive and overwhelming note to a government tax to lead the bank accounts. >> that means government cash for pensions, welfare, and health care could dry up as early as may. parliament voted less than an hour ago, following to be would days of high drama, handing the government and brussels a resounding defeat with no delegates voting in favor of the plan. 36 no votes and 19 abstentions. >> the house speaker had urged mp's to say no to blackmail in the vote on the bureau's own bailout package. his words clearly catching the angry mood in the chambers and on the streets. outside the parliament building, angry crowds also called for a no vote and held up signs, warning that other nations like italy and spain could be next in line. for the latest, le
. that includes a controversial tax on bank accounts to fund the bailout. >> people in cyprus brave the storm to protest outside parliament ahead of a crucial few hours for the country. inside, lawmakers are voting on a series of measures designed to help the financially stricken nation meet the terms of an international bailout package. few of the plan's details are known, even to eurozone officials in brussels, but an unpopular one of tax on savings could be back on the table, particularly on bank accounts with deposits of at least 100,000 euros. the plan needs to be in place by monday when the european central bank says it will withdraw financial aid for separate -- separate -- cypriot banks. >> a lot of people will definitely lose their jobs and benefits. >> cyprus needs to raise 5.8 billion in order to qualify for the bailout. its eurozone partners in the imf would then provide 10 billion euros in rescue loans. the fund raising measures under discussion include plans to restructure the country's second biggest lender and tapping state pension assets. >> all right, our correspondent is k
a bank deposit tax of up to 9.9%. in return the country would receive a bailout worth $10 billion or worth $13 billion. the cypriot issued -- the company's banks have been crippled by debt. cyprus is expected to start a fresh round of negotiations with creditors. but the two sides are unlikely to reach an agreement any time soon. >>> insurgents have sent a message on the 10th anniversary of the invags of iraq. they killed at least 50 people and wounded more than 100. a series of bombs exploded in baghdad and several other cities. militants attack with car bombs. the iraq war began before dawn on march 20th, 2003, with u.s. air strikes on the capital. members. administration of former president bush argued that iraq possessed weapons of mass destruction, but u.s. forces failed to find evidence of sum weapons. 120,000 civilians are said to have died from the fighting or from terrorism. u.s. troops pulled out of the country in 2011. >>> the economy's recovering. iraq overtook iran last year to become the second largest oil produce iramong the members of petroleum exporting countries.
%. it had been levying real estate taxes in two major cities, shanghai and jongching but decided to kple kple -- implement them in other cities as well. >>> they approved a new president and premier, a once in a decade change of leadership. mitchitaka yamaka reports. >> translator: china's dream must be realized with the power of a united people. that's the dream of each and every chinese. >> reporter: xi used the phrase "china's dream" nine times in the speech. at the end of the congress. the new president pledged efforts to improve people's lives and lead a national renaissance. a strong china is part of that dream. a point driven home by the incoming premier. he spoke to the media saying china will maintain its uncompromising strength of sovereignty and territorial rights. >> translator: china is firmly determined to follow the path of peaceful development. at the same time, china's position of defending its sovereignty and territory is unwavering. china will never bend these two principles. >> reporter: one of the new leaders did not speak, but his appointment has attracted much atte
with the beginning, and we look for to continuing the discussions. >> cypress has long been a tax haven for russian companies who have billions of euros in separate banks, but many russians who live on the island are outraged at the proposed levy on their savings. >> this country has cheated us and stolen our money. yes, stolen. it was not their money. we brought it here. we did not earn it here. >> for now, a separate account holders are relieved that parliament shot down the proposal. >> it was time to take a stand. they are sure to find a solution. the separate people are strong. we can take a lot. we have proven that before through many tough times. >> the cypriot government is still searching for any viable solution. even the country's archbishop has offered to help by digging into the pockets of the church. 17 billion euros is the son the island needs to keep afloat, approximately equivalent to the country's economic output, and it is more than the eu is willing to put up without a significant contribution from cyprus itself. >> for more, we can go now live to nicosia where our correspondent
in russia because of preferential tax treatment. two days of talks ended up without any agreement. bloomberg quotes saris as saying cyprus will continue to gain some kind of assistance from russia. he says there's still possibility to get conditions eased for the loans russia has extended in the past. >>> tensions are rising i >>> representatives from japan and the uk sponsored it. the three members of the commission will look into north korea's network of political prisons. japan's ambassador cited the abduction of korean nationals. >> japan strongly believes that a inquiry to investigate human rights will provide the council with con degree o-- concrete outcomes. >> the north korean ambassador criticized this. >> of the hostile forces, those human rights abuses have totally nothing to do with it. >> he has said that north koreans face widespread and systematic allegations. >>> last year, members of ansar dean. they were associated with al qaeda. it prompted french forces to intervene in the fighting in the former french colony. some security analysts suspect a link between it and a hostage
work to pay back that debt, and they have to work only to pay a tax, hopeless, but if something happened, huge debt disappear, so young generations start a very good start once again, it's a kind of reset, and a kind of rebalance appropriate over old generation and young generation i think. so in the medium term i'm optimistic but in the short term i'm very pessimistic. i'm mixed to running sooner or later. in that sense i'm pessimistic and also i'm optimistic. >> the new bank of japan policymakers are scheduled to meet april 1st and 4th. they want to know if concrete measures to end deflation will emerge from the meeting. >>> china last week put the finishing touches on a once in a decade leadership transition. most of the appointments were finalized months in advance with one high profile exception. authorities decided late in the game to keep zhou xiaochuan as head of the central bank. analysts say the mood reflects the need to speed market reforms. the changes are considered vital for achieving sustainable long-term growth. senior officials want to give zhou more time to ove
shock. and help to protect the most vulnerable people. >> government leaders had proposed a tax of up to 9.9% on bank deposits. but last week parliament rejected their plan. the european central bank had threatened to stop emergency funding by the end of the day if negotiators failed to reach a deal. >>> japanese depositors saw a upswing in stocks since mid-november the nk of japan released the results of its quarterly funds result on monday. outstanding balance of personal financial assets stood at $16.3 trillion as of the end of december. it's a gain of 2.5%. now, this rise is the sharpest since 2006. that's when japan was enjoying its longest stretch of post-war economic growth. the value of equities rose 12.2%. and investment trusts or mutual funds by 9.5%. observers say personal financial assets are likely to continue growing due to the ongoing rise in stock prices. people are also saving more money. also watching where japanese consumers will start spending again. major department stores are already reporting a rise in the sales of luxury items. >>> two leading shipbuilders in j
, then i want to assure you that we will be very resilient. >> it is goodbye to the low-tax business model that attracted lots of money a broad, a huge number of inking jobs will go. the country's a second-biggest bank, lockheed, will be submerged into the bank of cyprus. that's a, too, will be radically structured. euros will remain frozen. 30% will be taken to help sort out the thanks debts. under this new plan, deposits under 100,000 euros will be protected. the measures will not only affect foreign investors, many will lose out as well. there are barely any provisions with -- people have been supporting themselves in old age. the deposits are now in danger. >> up to now, the people have been extremely calm. and it is the people that have been great, not the politicians in this. the first attempted to deal for cyprus was voted down by the country's parliament. this time around, there approval is not required. >> let's go now live to make who is standing by for us and has the latest. nathan, the president was scheduled to address the nation as of this hour. it is a little bit late. what
Search Results 0 to 10 of about 11 (some duplicates have been removed)

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